Mortgage Options
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Rates updated Oct 17, 2025
Rates updated Oct 17, 2025
Get your best rate in 3 steps
- 1See how much you can borrow
- 2Compare your monthly payments
- 3Connect with a broker
Award-winning mortgage brokerage in Ontario with 2,000+ 5-star reviews
Since 2015, 360Lending has been helping homeowners across Ontario get better rates on home equity loans, HELOCs, and mortgage refinancing.
Proven Success
We fix problems banks can't. We help homeowners with overextended credit or income and high debt load.
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Get an instant estimate, schedule a call with a broker, and review your options from the comfort of home.
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Rated A+ by the Better Business Bureau. Our brokers are committed to your best interest—always.
As featured on:
Current Rates
Ontario
Second Mortgage (B Lenders)
From 8.49%
Home Equity Loan (Private)
From 7.99%
Second Mortgage with 360Lending
Get approved with banks, B lenders, or private lenders
Take out a second mortgage to get the best rates without refinancing your first mortgage. Second mortgages are popular in Ontario for debt consolidation, home improvements, or major purchases.
How to unlock your home equity (5 steps):
1
Get your estimate in 60 seconds
See how much you can borrow and your estimated monthly payments with our estimation tool - all before speaking with a broker.
2
Get your approval in 24 hours
Schedule a call at the end of your estimate to talk to a broker and receive your conditional approval within 24 hours.
3
Review your options
Receive a personalized report of your credit and debt-to-income ratios. See where you may qualify and how much you can save.
4
Compare with 100+ lenders
We negotiate with banks, B lenders, and private lenders to get you the best rates for your situation.
5
Receive funds within 5 to 8 days
Have your funds deposited into your account within 5 to 8 business days after your documents are signed.
Approved for $80,000as a second mortgage
Saved $12,000in prepayment penalties
Get More Without Refinancing
Josh is a financial advisor who owns an investment property in Barrie, Ontario. He has about 3.5 years left on his $475,000 mortgage, which he locked in at a very low rate.
Josh recently came across a lucrative business opportunity that required an $80,000 upfront investment. However, taking out a second mortgage made more sense than refinancing his first mortgage—he didn’t want to give up his low rate or pay thousands in prepayment penalties.
When Josh called our team, we walked Josh through the pros and cons of 2nd mortgages, helping him understand how a second loan could be layered onto his current mortgage without disrupting it. We also showed him how to use our second mortgage calculator to estimate monthly payments and evaluate the cost of borrowing over 3.5 years.
How to Use Home Equity Without Refinancing:
Because Josh had 3.5 years remaining on his first mortgage, our team of licensed mortgage professionals recommended applying for a second mortgage that would match the same term. This strategy allowed him to avoid breaking his existing mortgage—saving him from costly penalties while still accessing the funds he needed.
Josh’s mortgage application with a strong employment history, good credit, and low debt-to-income ratio made him a likely candidate to get an approval from traditional banks. We gathered his T4s from the past two years, along with his most recent pay stubs, to help him apply for a second mortgage through a competitive 2nd mortgage lender.
Our mortgage specialists also helped Josh compare second mortgage rates from multiple lenders, taking into account both interest rate and fees. Because of his profile, we were able to secure favorable terms that aligned with his investment timeline. This gave Josh confidence to move forward without disrupting his long-term mortgage strategy.
Results
Josh was approved for an $80,000 second mortgage in Ontario with a 3.5-year term, perfectly aligned with his existing mortgage maturity. This allowed him to invest in his business opportunity immediately while maintaining his low original rate. The second mortgage gave him quick access to capital without the delays and penalties that come with refinancing. Our team made the process seamless from end to end—helping him compare offers, understand repayment terms, and choose the best structure. This case highlights how second mortgages can be a smart, strategic option for homeowners who want to preserve their existing mortgage and still leverage their home equity. Whether you're investing, consolidating debt, or funding renovations, second mortgage products can offer the flexibility you need with the right guidance.
Get an estimate of your monthly payment:
What you'll need to apply for a second mortgage in Ontario, Canada
We recommend getting the following documents ready to ensure a seamless experience:
2 valid IDs (i.e. passport)
Direct deposit (or void cheque)
Home insurance
Mortgage statement
Property tax bill
T4s from the past 2 years & pay stubs (salaried or hourly)
Bank statements (self-employed or retired)
Ajax
360Lending empowers families with tools for better decisions and prioritizes client care for success.
9040 Leslie St, Unit 215
Richmond Hill, Ontario, L4B 3M4
Mon-Wed9am-8pm
Thurs-Fri9am-5pm
Sat-SunClosed
